Our latest poll is inspired by UK adviser, Derek Mills, who turned his once-struggling advice practice into one of the most successful in the United Kingdom. Mr Mills achieved his success when he began to base his business activities around standard setting, rather than goal setting.
Our poll asks you to consider whether your advice practice would be different if it focused on setting and maintaining standards rather than setting and achieving goals.
Mr Mills contends the usual set-up within advice practices sees its principals apply sales targets and other goals they want their practice to achieve. But the pathway to success for Mr Mills began when he cast aside those goals and focused instead on setting standards and meeting them every day (see: Setting Standards, Not Goals).
On his website, Mr Mills shares the various elements associated with his Life Standards System, to which he applies his standards. These elements cover both business and personal life, in what is a ‘whole person’ exercise.
While this change was the catalyst that saw Mr Mills rise to the top of his profession (after struggling for 18 years), it doesn’t mean that it is an approach that will suit all advisers or advice practices.
Do you already operate under a standards-based business and personal philosophy? Are you already achieving success by the more traditional ‘goal setting’ approach? Do you think this poll is just an exercise in semantics? Let us know what you think…
